LK Bennett lines up administrator with 500 jobs ‘at risk’ March 1, 2019 Fashion chain LK Bennett has filed for administration as it attempts to find a way to stay afloat. The retailer has selected EY as an administrator for the business, Sky News first reported, which will oversee its insolvency if no new investment can be found. Read more: Revolution Bars issues profit warning amid 'challenging' conditions [...]
City Moves for 28 February – who’s switching jobs at AT Kearney, JLL and Bee Midtown? February 27, 2019 Who’s on the move today? AT Kearney AT Kearney, the management consulting firm, has appointed Simon Kent as global head of financial services. He joined as a partner in its London headquarters in 2013 from Navigant, where he was head of financial services. With over 25 years’ experience of advising financial services clients, Simon will [...]
Swedish and Estonian regulators probe Swedbank over money-laundering report as SEC goes after Danske February 21, 2019 Swedish and Estonian financial regulators have launched a joint investigation after an explosive report linked Stockholm-headquartered lender Swedbank to a Baltic money-laundering scandal. The countries’ respective Financial Supervisory Authorities (FSAs) announced the probe following a report by Swedish broadcaster SVT that alleged links between Swedbank and scandal-ridden Danish lender Danske Bank. Dankse has been rocked [...]
Cyber attack threat poses biggest risk to UK businesses adopting 5G February 19, 2019 Cyber threats pose the biggest risk to UK businesses adopting 5G, new research has revealed. Around 40 per cent of businesses see the risk of cyber attacks as the most concerning aspect of the new high-speed mobile network, according to a survey by EY. Read more: The stakes are high in the global 5G race [...]
UK productivity fell in fourth quarter of 2018 as economic growth faltered February 19, 2019 The UK suffered a “disappointing” fall in productivity at the end of last year as GDP slowed, rounding off a sluggish 2018. Productivity – measured as output per hours worked – fell 0.2 per cent in the fourth quarter compared with the same period in 2017, according to the Office for National Statistics. Read more: [...]
Wages grow at their fastest rate since 2008 as employment rate hits joint record high February 19, 2019 UK wages grew at their fastest pace in a decade in the final three months of last year. Wages grew 3.4 per cent for October to December last year, according to the Office for National Statistics, up from 3.3 per cent growth to November, as vacancies reached a new record high. The employment rate 75.8 [...]
Almost 90 per cent of UK companies have divestment plans in next two years February 18, 2019 Almost 90 per cent of UK companies plan to divest some shares in the next two years, with 72 per cent intending to make a disposal in the next year. Although the disposal intentions of UK companies remain high, above the global figure of 84 per cent and up from a UK figure of 46 [...]
Private sector pay set for growth as skills shortage bites February 18, 2019 Private sector pay is set to increase 2.5 per cent as skills shortages put pressure on employers. A survey by the Chartered Institute of Personnel and Development and the Adecco Group of pay and recruitment intentions at 1,254 employers in the first quarter of 2019 showed basic pay expectations in the private sector have increased [...]
Better-than-expected January sales buck retail fears as discounts lure in shoppers February 15, 2019 Retail sales beat expectations in January, as shoppers seized on New-Year deals despite a wider slowdown in spending amid political uncertainty. According to new Office for National Statistics (ONS) figures which buck a recent trend of gloomy retail surveys, month-to-month sales volumes in the sector climbed one per cent during January, trumping consensus estimates of [...]
Theresa May to back down on Brexit backstop demands with EU February 15, 2019 Prime Minister Theresa May is reportedly set to compromise on demands for the Brexit deal to be renegotiated, with the UK government backing down on its requests for changes to the controversial Irish border "backstop" agreement. Brexit secretary Stephen Barclay told the EU's chief negotiator Michel Barnier that the government is not pursuing a reopening to [...]